ING to wind-up retail banking operations in the Philippines by end of year
The firm will leave the retail banking market in the country before the end of 2022.
Europe
French business banking firm Qonto snaps up German fintech Penta
The acquisition is expected to close in the next few weeks.
Rabobank selects US fintech InvestCloud for financial planning tools
Goal-based financial planning features will be made available to Rabobank’s customers.
Curve appoints new CPO Eyal Galina to build out product offering
Galina will be responsible for Curve’s product roadmap and strategy as it looks to boost its presence in the US.
Tax automation platform Fonoa raises $60m Series B
Cash will go towards doubling the company’s headcount and expanding into new markets.
Scottish Building Society taps AML firm Jade ThirdEye to upgrade security
Jade ThirdEye will upgrade the firm’s existing transaction monitoring solution.
FX firm Monex Europe hires former Mastercard exec as new CTO
John Gallagher joins as one of three new leadership hires at the firm.
Pennyworth partners Moneyhub for financial planning tool
The offering is targeted towards those with salaries between £40,000 and £150,000.
Privacy, regulations and cross-border data sharing in finance
Discussing the value and inherent risks associated with data sharing on a global scale.
BNP Paribas partners fintechs to develop digital asset custody offering
The new combined solution will allow clients to issue, transfer and securely keep regulated digital assets.
Wealthtech FNZ snaps up private banking tech provider New Access
New Access is primarily active in Switzerland, Liechtenstein and Luxembourg.
Starling withdraws Irish banking licence application in expansion rethink
Starling says it will take its software to banks worldwide through its SaaS subsidiary, Engine.
European proptech Casavo secures €400m in equity and debt funding
The Series D equity raise, led by Exor, represents Europe’s largest proptech financing to date, Casavo says.
Funding Circle hires Bruno Tavares as new VP of engineering
Tavares has more than 20 years worth of experience across technology and engineering.
UK challenger Kroo expands partnership with ClearBank
ClearBank has worked with Kroo since 2019 in its journey towards becoming a fully regulated bank.
Saleem Arshad appointed as new CTO for Revolut India
Arshad will help shape Revolut’s product offerings and technology for the Indian market.
FCA tells banks to treat struggling small business borrowers fairly
The move comes as part of the regulator’s work in response to the increasing cost of living.
Remittance start-up SendSprint launches in UK in partnership with Flutterwave
Flutterwave will provide the infrastructure to enable SendSprint to process cross-border transactions.
A2A paytech Volt hires Stuart Barclay as new VP of strategy
Barclay joins from Swedish open banking unicorn Trustly.
Europe fintech funding round-up: Quartr, ID-Pal, Oper and Fuell
Our weekly fintech round-up for you to get the latest funding news from around Europe.
Multi-currency investment platform Lightyear lands $25m Series A
The Series A will support the company’s expansion into 19 European markets.
UK fintech funding round-up: Griffin, Novatus, Zazuu and Plenitude
A handy round-up of the recent funding endeavours of fintech companies in the UK.
Banking Technology Magazine July / August 2022 issue out now
Cover story: MAKING THE DREAM WORK – Helping Ukraine in a planet-friendly way.
Recurring-revenue business lender Capchase secures $400m debt financing
The funds will be used to support SaaS start-ups across the US and Europe.
Deutsche Bank partners Abbove for wealth management services in Belgium
Abbove says the partnership marks another step in the wealthtech’s private banking development strategy.
Coremont hires Akbar Sheriff as new global COO and partner
Sheriff joins Coremont from State Street, where he held multiple global and regional leadership roles.
New European wealthtech Moniflo launches in beta
Moniflo says it aims to make investing “transparent, affordable, and for everyone”.
Consumer finance provider Home Credit appoints Jan Cenkr as group CIO
Home Credit is working towards the launch of its new Global Mobile App.
Digital asset management platform Safe raises $100m
Funds will enable the firm to grow an ecosystem of applications on top of its smart contract account protocol.
Recognise Bank taps TruNarrative for digital customer onboarding solution
The RiskNarrative platform will digitise a number of AML and KYC processes via a single API.
Digital insurer Wefox raises $400m Series D funding
Funds will be used for product development and expanding across Europe, Asia and the US.
ING spins out digital post-trade market infrastructure tech to GMEX Group
GMEX intends to combine Pyctor with its MultiHub offering.
Klarna lands $800m funding as valuation cut to $6.7bn from $45.6bn last year
The firm says it “has not been immune to the significant downdrafts of fintech stock in public markets”.
Cross-border salary payments platform Kadmos nets €29m Series A
The new funds will be used to grow its 30-person team and for further product development.
FCA appoints six new directors as it embarks on “ambitious” new strategy
The appointments sit alongside the nearly 500 new staff hired this year.
Mambu partners Visa for end-to-end card issuing and processing
The company is developing an integration with Visa DPS.
Sid Jajodia appointed as Revolut’s new US CEO
Jajodia joined Revolut as chief banking officer in 2021 and will continue in this role alongside his new position.
GoHenry acquires French fintech Pixpay to drive European expansion
Both firms will continue to operate under their own brands with no change in leadership or headcount.
UK fintech Sonovate secures £165m securitisation deal
Sonovate says the deal will enable it to lend over £1.3 billion in invoices “this year alone”.
Europe fintech funding round-up: Currensea, Zeed, BKN301 and pfs
A handy round-up of the recent funding endeavours of fintech companies across Europe.
